IIFT Daily Note with Peter Brown

Quiet week ahead?

Posted by:  |  Time: 7:56 am  |  Topic:
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Friday’s NFP were ok but the revisions were good. Market put in a good rally and broke through some important levels. However we are back to those levels this morning. Can the market continue to gain. To be honest the market seems a bit tired and this week could be a period of consolidation. Anyway we should trade fairly technical.

S&P levels are 1500 1506 support and 1510 on the topside

Euro is 1.3700  1.3660 resistance 1.3590  1.3600 good support

The IBEX the Spanish stock index is back in play. There has been a short selling ban here for months , now lifted. Any bad news or sentiment will be seen here. Because of the volatile nature of the contract, good points can be made when Euro worries come back. But be careful it is crazy at times.

When it settles I will provide trading levels.

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